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Trump declaration they're a security threat stuns Japanese automakers

TOKYO — Japan's automakers' lobby said on Tuesday it was dismayed by President Donald Trump's declaration that some imported vehicles and parts posed a threat to U.S. national security, as the industry braces for a possible rise in U.S. tariffs. Trump made the unprecedented designation of foreign vehicles on Friday but delayed for up to six months a decision on whether to impose tariffs to allow for more time for trade talks with Japan and the European Union. "We are dismayed to hear a message suggesting that our long-time contributions of investment and employment in the United States are not welcomed," said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association. "As chairman, I am deeply saddened by this decision," Toyoda, president of Toyota, said in a statement. Trump has threatened to impose tariffs of up to 25% on imported cars made by foreign automakers, a move which automakers have argued would ramp up car prices, curb the global competitiveness of U.S.-made vehicles and limit investment in the country, the world's No. 2 auto market. The United States is a vital market for Toyota, Nissan, Honda and other Japanese car makers. Autos and components are among the Asian country's biggest export products. Most of Japan's major automakers operate plants in the United States. The Japan Automobile Manufacturers Association notes that its automakers build about 4 million vehicles a year in North America, or 75 percent of what it sells here. Many are built for export, helping lessen the U.S. trade deficit Trump is concerned about. Major automakers have announced a slew of investments in the United States since Trump took office in January 2017 and put pressure on the industry to create more U.S. jobs. For its part, Toyota has pledged to invest almost $13 billion in the United States between 2017 and 2021 to boost manufacturing capacity and jobs. This includes $1.6 billion for a vehicle assembly plant in Alabama jointly run with Mazda. Government/Legal Honda Mazda Mitsubishi Nissan Toyota Trump

Ghosn's lawyers say he's 'happy' after days of French questioning

BEIRUT — Ex-Nissan boss Carlos Ghosn has answered hundreds of questions by French investigators over the past week in Beirut and was “happy and satisfied” to have had the opportunity to explain himself over accusations of financial misconduct, his lawyers said Friday. The 4 1/2 days of questioning marked the first opportunity for Ghosn, a French national, to defend himself against the French allegations — including spending on lavish parties and private planes — since his 2018 bombshell arrest in Japan and escape to Lebanon a year later. However, as Ghosn was being interrogated outside of French soil, it was unclear how he could, if at all, be handed down preliminary charges. His lawyers said they will now seek the right to ask for witnesses and expert testimony in the French investigation. Earlier, the auto magnate-turned-fugitive told The Associated Press that he has done nothing wrong and hopes the investigations are eventually dropped. He didn't speak to reporters throughout the Beirut interrogation, which began on Monday. It is an unusual move for French magistrates to question a suspect abroad. Ghosn, who was given sanctuary by Lebanese authorities, grew up in Lebanon and also has Lebanese citizenship. Lebanon will not extradite him. He is Brazilian-born. Ghosn was questioned about the financing of parties he threw at the Versailles Palace as the head of the Renault-Nissan car alliance. The French investigators, in cooperation with Lebanese judicial authorities, were also examining 11 million euros in spending on private planes and events arranged by a Dutch holding company, and subsidies to a car dealership in Oman. “It was his opportunity to explain his positions,” said Jean Yves Le Borgne, a member of GhosnÂ’ defense team. “It has now happened and he is satisfied and happy.” “Still unresolved, of course, is the problem of the next step in this procedure,” Le Borgne added. Ghosn has not so far been charged with anything in France, but could be, given preliminary accusations of fraud, corruption, money laundering, misuse of company assets, or aggravated breach of trust. Whether Ghosn could be charged or not by the French, Carlos Abou Jaoude, his Beirut-based lawyer, said Lebanese and French authorities have to determine what GhosnÂ’s “status” will be. Ghosn is campaigning to clear his name against multiple legal challenges in France after Japanese accusations triggered scrutiny of his activities there.

Ghosn calls Renault and Nissan financial results 'pathetic'

PARIS — Former Nissan Chairman Carlos Ghosn took a swipe at his old employers in a newspaper interview on Sunday, calling the Renault and Nissan results "pathetic," driven as much by a lack of joint leadership than the COVID-19 pandemic. Ghosn, who was also the chairman of Mitsubishi Motors, was arrested in Japan in late 2018 on charges of underreporting his salary and using company funds for personal purpose — charges he denies. He fled to Lebanon from Japan. "There is a market confidence problem in the alliance. Personally, I find the results of Nissan and Renault pathetic. The two companies are looking inwards. There is no longer any real mix of management between Renault and Nissan, but a distrustful distance," he told Le Parisien newspaper. Ghosn compared the share price fall from November 2018 to June 2020 of competitors General Motors and Toyota of 12% and 15% respectively to Nissan dropping 55% and Renault 70%. "All of these manufacturers are facing the same COVID crisis, but Renault and Nissan are being punished more than the others,' he said. Ghosn fled Japan to Lebanon, his childhood home, in December as he awaited trial on charges of underreporting earnings, breach of trust and misappropriation of company funds, all of which he denies. Ghosn was questioned in Lebanon in January. He has said he will cooperate fully with the Lebanese judicial process, but it is unclear what cooperation there will be between Tokyo and Beirut. French prosecutors have also stepped up their investigation into alleged misappropriation by Ghosn of funds at Renault and had summoned him in France on July 13, but he did not attend. "There is a technical obstacle. My passport is in the hands of the attorney general in Lebanon, because Japan has issued an international arrest warrant for me," Ghosn said. "I also want to be sure that my security is assured and that I am guaranteed freedom of movement." Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. CES 2020 and Carlos Ghosn | Autoblog Podcast #609